UNH - Netflix Goldman Sachs J&J ASML Lead Q2 Reports This Week As Analysts See Earnings Growth Accelerating To Fastest In Over 2 Years | Benzinga
The second-quarter reporting season got off to a rocky start with investors reacting to some big bank earnings. Nevertheless, optimism over a healthy earnings season continues to abound.
The Week That Was: Shares of high-profile big banks including JPMorgan Chase & Co. (NYSE:JPM), Citigroup Inc. (NYSE:C) and Wells Fargo & Company (NYSE:WFC) came under selling pressure following their earnings releases. JPMorgan fell 1.21% after being down over 2.5% intraday on Friday. The weakness was despite the company reporting a double-beat. Wells Fargo slumped a steeper 6.02% as higher deposit costs dented its bottom line.
Delta Air Lines, Inc. (NYSE:DAL) shares fell about 7% in two sessions after the airline reported a plunge in profit despite top-line coming in above estimates.
We are early days into earnings with only 5% of the S&P 500 companies having reporting earnings so far, according to financial data analytics company FactSet. Of these 81% reported earnings beat and a more modest 56% ringed in a positive revenue surprise.
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What’s Next: Blended earnings per share growth of S&P 500 companies is expected to ...